Posted on 08/09/2019 7:58:14 AM PDT by C19fan
Venezuela’s crisis has been marked by corruption, hyperinflation, one of the world’s highest homicide rates, food and medicine shortages and the largest exodus “in the recent history of Latin America,” according to the U.N. Refugee Agency.
Its chances to recover may start with President Nicolas Maduro stepping down or being forcibly removed — either by the opposition or through foreign military intervention. But that would just be the first step to get the ruined economy on the road to recovery. A major course of economic shock therapy will be required.
(Excerpt) Read more at cnbc.com ...
10 million percent.
That would be a b.tch of a mortgage.
I’d have to put the AC temperature higher to compensate.
Dangerously close to the eleventy million red line!
I you got a fixed rate mortgage before the inflation hits you get the equivalent of a free house.
Can’t Beatnik Bernie just go down there, apply his vast economic knowledge and have this problem cleared up in a week or so?
lol
According to our Federal Reserve their economy must be suffering from too much growth.
I don’t think their price controls are working.
I you got a fixed rate mortgage before the inflation hits you get the equivalent of a free house.
...
Some people attain incredible wealth from hyperinflation if they start early.
Venezuela - where Monopoly money is worth more than the national currency...
The odd thing about Venezuela is the country does not enough money to pay the vendor of the money printing press so bank notes are relatively rare.
Most places prone to such things don’t have the concept of mortgage.
If you want something you bring cash.
The odd thing about hyperinflation bank notes is they sell for a massive premium overseas due to collectors.
He would be eaten.
Yeah, but a burger would cost $10 billion...
LOL
um.. your thinking of interest rates. Inflation makes you money worth more...
so if you had a $100,000 mortgage that you locked in before the crisis... you could sell a loaf of bread for that and pay off the mortgage.
“He would be eaten.”
You say that like it is a bad thing. Maybe he should take that fat pig of a wife along, and “offer her up!”
I realized that when the other FReeper told me that if I got a fixed mortgage before that, it’s basically free.
That’s wouldn’t make sense with interest.
I got the words Subjective and Objective confused before.
Now this.
And I’m only 51.
It’s gonna be a long road ahead!
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